SSI Online Registration in Coimbatore

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    MSME / UDYAM Registration

    Small Scale Industries registration comes under MSME Act. SSI registration is not mandatory, but there are privileges and advantages for running a business. These privileges include sanctioning loan, tax exemption, from the bank. If a manufacturing company having investment less than 10 crore and service oriented company investment less than 5 crore can register under MSME. If, at any time, cross the limit fixed by the MSME will cause to disqualify as small scale industry category.

    Online SSI Registration

    SSI means Micro, Small and Medium Enterprises. SSI registered company is eligible for a number of schemes and subsidies under the Government to support and encourage small scale companies in India. SSI Registration is under the MSME department of the State Government. State governments have the power to sanction schemes and approval of subsidiaries for small scale industries. SSI procedures will vary from state to state. The eligibility criteria for manufacturing units to register SSI are as follows:

     

    • Micro Industries – 25 Lakhs investment
    • Small scale Industries – 5 Crores investment
    • Medium Industries – 10 Crores investment

    For service oriented industries:

    • Micro Industries – 10 Lakhs investment
    • Small scale Industries – 2 Crores investment
    • Medium Industries – 5 Crores investment

    Filing and Advantages of SSI Registration

    There are two forms to register SSI one is EM Part I and another one is EM Part II. The entrepreneur Memorandum is valid only getting acknowledgement from the department. Central and state government given some schemes and support to SSI units like:

     

    • Loan sanctioning schemes and allocation of fund
    • Less bank interest
    • Deduction in tax and subsidies

    Frequently Asked Questions!!

    What is the disadvantage of private limited company?

    One of the main disadvantages of a private limited company is that it restricts the transfer ability of shares by its articles. In a private limited company the number of members in any case cannot exceed 200. Another disadvantage of private limited company is that it cannot issue prospectus to public.


    Who controls a private limited company?

    Private limited companies are owned by one or more individuals (human or corporate) known as 'members'. The members of limited by shares companies are called shareholders. The members of limited by guarantee companies are known as guarantors.


    What is meant by sole proprietorship?

    A sole proprietorship also referred to as a sole trader or a proprietorship, is an unincorporated business that has just one owner who pays personal income tax on profits earned from the business. A sole proprietorship is the easiest type of business to establish or take apart, due to a lack of government regulation.